Working From Home: Legal, Tax, Insurance and Other Things That Matter - Paul and Sarah EdwardsBrewer, Dennis CBrewer, Paul A
With inflation having surged, the state pension has seen unusually large increases, which again pushes more pensioners over the tax threshold. What can you do? "While simple assessments are meant to simplify tax collection, they can catch people off guard, especially pensioners who don't complete...
If you work from home, you may be entitled to some normally unavailable tax breaks. Your biggest savings will probably come from the home office deduction. This allows you to deduct some of your housing expenses, like your rent, utilities, cleaning servi
If you satisfy the IRS rules, the reimbursement is tax-free too. And your employer can deduct the full amount as a business expense. Why would your employer reimburse you for your home office? A few states may require it under state labor law. California, Pennsylvania, Illinois, Montana,...
The first was arise in the number of state pensionerswho also have other income in retirement which they need to pay tax on. Frozen tax thresholdsuntil 2028 is another key driver. This means that as incomes rise with inflation, more people are pushed over the personal ...
If you're working from home, deducting the costs associated with your home office can be a big tax saver—but the rules are tricky. To get the deduction, the law requires you to use your home office "exclusively and regularly" for your business. It must be an area in your home where...
Portugal Protects Employees With New Rules on Home Working More LISBON, Portugal (AP) — Portugal’s parliament approved Friday new labor laws on working from home, introducing additional protection for employees who do their job away from company premises. The new rules are a response to ...
OTTAWA – Has the COVID-19 pandemic had you stuck working at home for at least four weeks this year? Then you may be eligible for a tax deduction and the Canada Revenue Agency has created new, simpler ways for you to claim it. Article content As of October, up to 2....
Therefore as an employee, working from home has no tax benefits. INDEPENDENT CONTRACTOR If you are self employed, an independent contractor, or have a side hustle, you are eligible to claim the home office deduction. To qualify to deduct expenses for business use of your home you must use ...